1 reviews | Active since May 2012
Appalling service and still not able to sell shares after two months
I see there are many people in my situation. Some people wrote reviews under Yebo Yethu Shares. Velocity Trade does the administration.
I have been trying to help my employee to sell shares for the past two months. Velocity gave me a list of requirements. I had all necessary documentation scanned high quality and got SAP stamps. I was told that either the scan quality was poor or SAP stamp not good enough. This went on for two months. I finally took the time to drive to their offices in Claremont (I did this twice as first time I was told a utility bill was 4 months old and had to be 3 months old, needless to say my 2 month run around caused this) to take the originals and they said all in order and I only need to wait 10 days for my employee to be able to sell his shares.
10 days later and I am now told there is more documentation needed but they can't tell me what it is since I am not the shareholder. Ironically they have breached POPI by giving me some of my employee's personal details in an email. Their excuse is that they thought the email came from the share holder (go figure). My employee is at his wits end. He does not have email nor a computer, the ability to scan documents, time to drive to police stations, time to take off work, money to spend on expensive calls and walk to their offices in Claremont. He thinks he is being ****** of his money and sick and tired of waiting whilst share prices fluctuate and interest is lost.
I don't understand what is happening here. Why the stalling? Is documentation getting lost? Is there no process in place? I thought this would be a simple process.......
